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Oracle Corp plans to invest $1.5 billion in Saudi Arabia in the coming years as it builds up its cloud footprint in the kingdom and opens its third public cloud region in Riyadh, a company official said.
Increased demand for cloud computing has pushed technology companies such as Oracle, Microsoft, Amazon and Alphabet’s Google to set up data centres across the world to speed up data transfer.
Saudi officials have pressed international companies to invest in the kingdom and move their regional headquarters to Riyadh in order to benefit from government contracts. “We are finalising the plans for opening the Riyadh region. We are still working with our suppliers before we can announce the actual date,” Nick Redshaw, a senior vice president at Oracle, said in an interview from Dubai.